Obama talks fiscal reform at town hall-style meeting

19 Apr

Facing a possible future downgrade of America’s credit rating, President Obama on Tuesday told the first of three town hall-style meeting this week that a “big philosophical divide” exists between his approach to deficit reduction and how Republicans think.
The event at Northern Virgina Community College brought few challenging questions from mostly student audience.
Obama delivered campaign-style messages that emphasized what he he called his balance approach to reducing federal deficit deficits.
“America wants smart government, it wants a lean government, it wants accountable government, but it doesn’t want no government,” said Obama.
He emphasized what he called a balanced approach that both cut spending and increased revenue by ending tax cuts for the wealthy; maintained or increased spending in education and continued reforms launched in last year’s health care bill of of the Medicare and Medicaid government-run health systems for senior citizens and the poor and disabled.
“Those blessed with high income can afford to pay a little bit more,” Obama said his plan to restore the tax rate for families earning more than $250,000 a year to higher rates from the 1990s.

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